XM -Blog

5 Reasons To Ensure You Get The Most From Your Money Transfers

August 8th, 2019

5 reasons to ensure you get the most from your money transfers

Blurring geographical borders, innovative technologies, conflict-marred regions, and emerging opportunities have catalysed large-scale global migration. Such shifts in the global populace, who still have their roots intact in their native lands, have tremendously boosted the money remittance market.

It would be correct to presume that the promise of a better standard of living and professional growth will prompt even more migration out of low- and mid-income countries – and therefore, result in more money transfers. That premise holds true if we take into consideration the $529 billion received in remittances by these countries in 2018.

However, it’s also interesting to note that global remittances received are on the rise too, up from $633 billion in 2017 to $689 billion in 2018.

Why choose Xpress Money?

Anyone looking to send money between countries and continents would have a basic idea about how to transfer currency, but what they might not know is that choosing the right avenues and money transfer organisations can drastically impact the ease of transferring, the time taken, and the final amount that reaches the recipient.

Xpress Money has earned the reputation of being a trusted global money transfer organisation. With a strong presence in more than 170 countries, we transfer all types of currency- from best-performing currencies to the ones least transacted in- with competitive currency exchange rates.

The first question anyone looking to remit money thinks of is: ‘How do I transfer my money securely and safely?’ We, at Xpress Money, understand that when you are looking for the best value on your money transfers you would also want it to reach the hands of your people without any delay. To this end we have put in place stringent safety parameters to identify and remove threats across all layers of the transaction.

We ensure the highest level of security when it comes to money transfers. One of the key security measures in place are stringent KYC checks. The sender is required to provide a verified proof of identity prior to initiating the transfer. In order ensure the security of the funds transferred the sender is given a unique 16 digit XPIN which the receiver is required to produce along with his identity proof while collecting the remittance. No one can collect remittances on behalf of another person.

Flexible transfer methods offer convenience

When it comes to the cheapest money transfer options for remote regions, new-age ways of transferring money –through mobile wallets and payment apps are gaining ground.

At Xpress Money, we’ve simplified the transfer method by providing multiple ways to send and receive money. In addition to almost real-time transfer to a mobile wallet, you can also send money to the recipient’s bank account, or the designated person can pick it up from one of the 200,000 cash pickup locations across the globe.

Expedited transfers ensure instant remittance

We know that your loved ones may depend on you in times of need and that is why Xpress Money offers one of the quickest ways to find currency exchange rates and transfer money from anywhere in the world. As a key industry player we do everything in our capacity to speed up traditional remittance processes in order to enhance customer convenience.

There are no hidden costs involved

Remitting money, the old way, led to multiple people getting involved and each siphoning off a part of the transaction into their own pockets. This multi-layered cut and commission process considerably reduced the final amount that reaches the intended person.

With the introduction of money transfer organisations, people have become more informed as they know the exact amount of money deducted in fees and the exact amount that will reach the family. However, the numbers didn’t always match, as some organisations could choose to not disclose the hidden and peripheral costs involved.

At Xpress Money, we promote a high level of transparency and put all transfer fees and associated costs upfront. Barring these, you will never face any surprise deductions as we pride ourselves on guaranteeing a ‘no hidden fee’ approach to all our customers. Plus, by using our currency converter feature, you can find out how exchange rates are calculated and instantly know the actual amount the recipient will receive.

Benefit from the best transfer rates

Even the best-performing currency can dwindle to an insignificant amount if you factor in the currency exchange rate and transfer fees. Xpress Money’s competitive transfer fee ensures you don’t burn a sizeable chunk of your currency transfer on peripheral costs.

Awareness gives you peace of mind

There’s undoubtedly some apprehension involved in remitting money, especially if it’s from one continent to another. Whether you are looking to transfer money from outside the country or within, get peace of mind by being aware of where exactly your money is with our transaction tracker feature. This gives you step-by-step information on your money, and you will also be notified once the money reaches the intended recipient.

Final words

Being away from home comes with multiple challenges, but sending money to a foreign country to reach your loved ones shouldn’t be one of them. As more and more people seek better opportunities in the hope of a better tomorrow, we make sure that their loved ones back home benefit from their move too.

Today, no matter which part of the world you travel to, you can always be assured of your money reaching home safely and securely. Xpress Money and its partner networks work diligently to ensure that your hard-earned money is remitted conveniently, and quickly to meet the needs of your loved ones